Access Investment Management LLC Buys New Holdings in Republic Services, Inc. (NYSE:RSG)

Access Investment Management LLC bought a new position in Republic Services, Inc. (NYSE:RSG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,500 shares of the business services provider's stock, valued at approximately $907,000.

Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC bought a new position in shares of Republic Services during the fourth quarter valued at approximately $30,000. Turtle Creek Wealth Advisors LLC bought a new position in Republic Services in the 4th quarter valued at $34,000. Millburn Ridgefield Corp purchased a new stake in Republic Services in the third quarter worth $36,000. Catalyst Capital Advisors LLC purchased a new stake in shares of Republic Services during the third quarter valued at $36,000. Finally, BKM Wealth Management LLC bought a new position in shares of Republic Services in the fourth quarter worth about $37,000. 57.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on RSG. Truist Financial upped their target price on shares of Republic Services from $175.00 to $192.00 and gave the stock a "hold" rating in a research note on Wednesday, February 28th. The Goldman Sachs Group raised their price objective on Republic Services from $209.00 to $230.00 and gave the stock a "buy" rating in a report on Tuesday, April 16th. Jefferies Financial Group upped their target price on Republic Services from $213.00 to $225.00 and gave the stock a "buy" rating in a report on Monday, March 18th. Morgan Stanley downgraded Republic Services from an "overweight" rating to an "equal weight" rating and set a $199.00 price objective for the company. in a report on Friday, March 15th. Finally, Wells Fargo & Company increased their target price on shares of Republic Services from $180.00 to $188.00 and gave the stock an "overweight" rating in a report on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $201.00.

Insider Transactions at Republic Services

In related news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $186.02, for a total value of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at approximately $1,270,702.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Amanda Hodges sold 6,500 shares of Republic Services stock in a transaction on Monday, May 6th. The shares were sold at an average price of $186.02, for a total transaction of $1,209,130.00. Following the completion of the sale, the chief marketing officer now directly owns 6,831 shares in the company, valued at $1,270,702.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ark Jon Vander sold 5,446 shares of the company's stock in a transaction on Monday, March 4th. The shares were sold at an average price of $184.10, for a total value of $1,002,608.60. Following the completion of the transaction, the chief executive officer now directly owns 85,113 shares in the company, valued at $15,669,303.30. The disclosure for this sale can be found here. Insiders own 0.09% of the company's stock.

Republic Services Stock Up 0.6 %

Shares of NYSE RSG traded up $1.11 during trading hours on Friday, hitting $189.24. 689,898 shares of the stock were exchanged, compared to its average volume of 1,477,847. Republic Services, Inc. has a 12 month low of $140.07 and a 12 month high of $196.76. The firm has a fifty day moving average price of $188.37 and a 200-day moving average price of $173.39. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.05. The company has a market cap of $59.60 billion, a PE ratio of 33.20, a PEG ratio of 3.03 and a beta of 0.67.

Republic Services (NYSE:RSG - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The business services provider reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.10. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.89 billion. Republic Services had a return on equity of 17.56% and a net margin of 11.81%. The business's quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.24 earnings per share. On average, sell-side analysts expect that Republic Services, Inc. will post 6.05 EPS for the current year.

Republic Services Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Tuesday, July 2nd will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 1.13%. The ex-dividend date is Tuesday, July 2nd. Republic Services's dividend payout ratio is presently 37.54%.

Republic Services Profile

Republic Services, Inc, together with its subsidiaries, offers environmental services in the United States and Canada. It is involved in the collection and processing of recyclable, solid waste, and industrial waste materials; transportation and disposal of non-hazardous and hazardous waste streams; and other environmental solutions.